Strategy’s preferred stock STRC opened trading at $95.39 on August 12, marking its highest level in two months. The stock is now sitting less than 5% below its $100 par value, a quiet milestone for an instrument that spent much of the year struggling to hold that psychological floor.
What STRC actually is and why $95 matters
STRC, formally known as the Variable Rate Series A Perpetual Stretch Preferred Stock, is not your typical preferred share. It was issued on July 29-30, 2025, when Strategy (formerly MicroStrategy) sold 28,011,111 shares at $90 each. That offering raised $2.521 billion, making it the largest US IPO of 2025.
The capital has one primary destination: buying more Bitcoin.
The “variable rate” part is where things get interesting. STRC’s dividend adjusts monthly based on how the stock trades relative to its $100 par value. When shares dip below $95, the annualized dividend rate gets bumped up by 0.5%.
